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Norway to record oil and gas revenues in 2022
Norway has recorded record oil and gas revenues in 2022, reaching 1.457 billion kroner, three times more than in 2021, according to official figures released Monday.
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Norway to record oil and gas revenues in 2022
Norway has recorded record oil and gas revenues in 2022, reaching 1.457 billion kroner, three times more than in 2021, according to official figures released Monday.
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A free trade agreement between South Korea and the GCC
South Korea is continuing negotiations on a free trade agreement with the Gulf Cooperation Council to enhance its energy security and improve the economics of importing sour crude from the Middle East. Discussions focus on opening markets for products and services, improving environmental trading conditions and intellectual property rights.
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A free trade agreement between South Korea and the GCC
South Korea is continuing negotiations on a free trade agreement with the Gulf Cooperation Council to enhance its energy security and improve the economics of importing sour crude from the Middle East. Discussions focus on opening markets for products and services, improving environmental trading conditions and intellectual property rights.
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China lifts unofficial ban on Australian coal
After more than two years of an unofficial ban, China began buying Australian coal this month, according to market sources and data from S&P Global Commodity Insights.
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China lifts unofficial ban on Australian coal
After more than two years of an unofficial ban, China began buying Australian coal this month, according to market sources and data from S&P Global Commodity Insights.
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Oil prices rise as Russian production is cut
Oil prices rose due to a reduction in Russian oil production, which exceeds that announced by the Russian Deputy Prime Minister for Energy. Analysts have warned of a tight market due to growing demand from China and India.
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Oil prices rise as Russian production is cut
Oil prices rose due to a reduction in Russian oil production, which exceeds that announced by the Russian Deputy Prime Minister for Energy. Analysts have warned of a tight market due to growing demand from China and India.
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TotalEnergies obtains license for Ugandan hydrocarbon mega-project
The pipeline project is now officially under the control of the French company TotalEnergies, and activists and NGO groups are facing considerable environmental and human criticism.
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TotalEnergies obtains license for Ugandan hydrocarbon mega-project
The pipeline project is now officially under the control of the French company TotalEnergies, and activists and NGO groups are facing considerable environmental and human criticism.
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Vladimir Putin criticizes sanctions targeting Gazprom
The Russian gas giant Gazprom, targeted by international sanctions for the past year, has been at the center of criticism from President Vladimir Putin, who denounced "direct attempts" by the West to "hinder the development" of the company. Despite a 25.1% drop in its gas exports in 2022, Gazprom has launched new projects to cope with the situation, in particular by turning to Asia where energy demand is strong.
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Vladimir Putin criticizes sanctions targeting Gazprom
The Russian gas giant Gazprom, targeted by international sanctions for the past year, has been at the center of criticism from President Vladimir Putin, who denounced "direct attempts" by the West to "hinder the development" of the company. Despite a 25.1% drop in its gas exports in 2022, Gazprom has launched new projects to cope with the situation, in particular by turning to Asia where energy demand is strong.
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The trend of fossil fuel subsidies and its consequences
An all-time high in subsidies is reached in 2022, which increases fossil fuel consumption. A measure that may in the long term compromise the transition to clean energy and from which lessons must be learned for the future.
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The trend of fossil fuel subsidies and its consequences
An all-time high in subsidies is reached in 2022, which increases fossil fuel consumption. A measure that may in the long term compromise the transition to clean energy and from which lessons must be learned for the future.
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Oil demand expected to increase by 2 million b/d
According to the International Energy Agency (IEA), global oil demand is expected to increase by 100,000 barrels per day in 2023 due to China's economic recovery and the aviation sector. Market optimism and external factors boosted production, with an increase in the estimate for global oil production growth of 200,000 b/d.
Sans-titre-2023-02-16T120242.083
Oil demand expected to increase by 2 million b/d
According to the International Energy Agency (IEA), global oil demand is expected to increase by 100,000 barrels per day in 2023 due to China's economic recovery and the aviation sector. Market optimism and external factors boosted production, with an increase in the estimate for global oil production growth of 200,000 b/d.
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USA: Commercial crude oil reserves take off
U.S. commercial crude oil reserves rose by 16.3 million barrels last week, despite a general softening in demand. This surprise figure caused prices to plummet and commercial stocks are at their highest level since early June 2021.
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USA: Commercial crude oil reserves take off
U.S. commercial crude oil reserves rose by 16.3 million barrels last week, despite a general softening in demand. This surprise figure caused prices to plummet and commercial stocks are at their highest level since early June 2021.
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Israel makes its first crude oil exports
Israel is starting to export crude oil for the first time in its history, a further step towards energy independence thanks to its resources in the Mediterranean.
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Israel makes its first crude oil exports
Israel is starting to export crude oil for the first time in its history, a further step towards energy independence thanks to its resources in the Mediterranean.
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Oil prices decline
Oil prices record a further decline after the U.S. government's decision to release millions of additional barrels from its strategic reserve and the possible buildup of U.S. crude inventories. Analysts expect oil prices to continue to fall in the coming days.
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Oil prices decline
Oil prices record a further decline after the U.S. government's decision to release millions of additional barrels from its strategic reserve and the possible buildup of U.S. crude inventories. Analysts expect oil prices to continue to fall in the coming days.
Sans-titre-2023-02-15T123004.078
Gas consumption falls in several regions of the world
Gas consumption fell sharply in January in several parts of the world, particularly in the European Union and the United Kingdom, due to mild temperatures and the rise of renewable energy.
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Gas consumption falls in several regions of the world
Gas consumption fell sharply in January in several parts of the world, particularly in the European Union and the United Kingdom, due to mild temperatures and the rise of renewable energy.
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The impact of war and sanctions on Russian gas
The impact of the war in Ukraine on gas trade with Europe has been disastrous for Russia, with several exports reduced and revenues almost halved this year according to estimates. Russia is seeking to adapt by negotiating new commercial contracts and diversifying its gas production in order to continue to maintain its economy.
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The impact of war and sanctions on Russian gas
The impact of the war in Ukraine on gas trade with Europe has been disastrous for Russia, with several exports reduced and revenues almost halved this year according to estimates. Russia is seeking to adapt by negotiating new commercial contracts and diversifying its gas production in order to continue to maintain its economy.
Sans-titre-2023-02-14T183320.645
OPEC raises oil demand forecast for 2023
The Organization of the Petroleum Exporting Countries (OPEC) revised upward its forecast for global oil demand growth in 2023 in its monthly report released Tuesday. The lifting of COVID-19 restrictions in China and expected production cuts in Russia and other non-OPEC producers led to this upward revision, the first in several months. Oil prices could rise with demand growth of 2.3%.
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OPEC raises oil demand forecast for 2023
The Organization of the Petroleum Exporting Countries (OPEC) revised upward its forecast for global oil demand growth in 2023 in its monthly report released Tuesday. The lifting of COVID-19 restrictions in China and expected production cuts in Russia and other non-OPEC producers led to this upward revision, the first in several months. Oil prices could rise with demand growth of 2.3%.
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Pakistan seeks to buy cheap Russian oil
Pakistan wants to buy cheap Russian oil to reduce its financial burden, but logistical and technical obstacles stand in its way, according to government and industry sources.
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Pakistan seeks to buy cheap Russian oil
Pakistan wants to buy cheap Russian oil to reduce its financial burden, but logistical and technical obstacles stand in its way, according to government and industry sources.
Sans-titre-2023-02-14T113308.888
Aker BP: plans to increase Grane crude production in Norway
Aker BP announces ambitious plans to increase its crude oil production, including increased volumes of Grane crude blend. Investments in the Ivar Aasen, Edvard Grieg, Symra, Solveig Phase 2 and Troldhaugen fields, as well as the major Yggdrasil project, will enable Aker BP to reach an average production of 430,000 to 460,000 b/d in 2023.
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Aker BP: plans to increase Grane crude production in Norway
Aker BP announces ambitious plans to increase its crude oil production, including increased volumes of Grane crude blend. Investments in the Ivar Aasen, Edvard Grieg, Symra, Solveig Phase 2 and Troldhaugen fields, as well as the major Yggdrasil project, will enable Aker BP to reach an average production of 430,000 to 460,000 b/d in 2023.
Sans-titre-2023-02-14T102436.409
Global oil demand at highest since pandemic
Oil consumption exceeds its pre-pandemic level according to Opec. Despite growing concerns about climate change, global demand for oil is not waning. Developing countries will drive growth, while China is expected to support demand in 2023.
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Global oil demand at highest since pandemic
Oil consumption exceeds its pre-pandemic level according to Opec. Despite growing concerns about climate change, global demand for oil is not waning. Developing countries will drive growth, while China is expected to support demand in 2023.
Sans-titre-2023-02-14T161931.288
International sanctions and their impact on Russian trade
Russia has seen its gas exports fall by more than 25%, while oil exports have grown by 7.6%. International sanctions have a significant impact on Russian gas sales, but demand for Russian crude oil has increased in India, China and Turkey.
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International sanctions and their impact on Russian trade
Russia has seen its gas exports fall by more than 25%, while oil exports have grown by 7.6%. International sanctions have a significant impact on Russian gas sales, but demand for Russian crude oil has increased in India, China and Turkey.
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IEA warns of continuing crisis in gas markets
With Russia more than halving its gas deliveries to the European Union and pipelines virtually shut down in 2023, the International Energy Agency (IEA) is convening a special meeting with ministers from more than 40 countries to "review the situation of gas markets."
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IEA warns of continuing crisis in gas markets
With Russia more than halving its gas deliveries to the European Union and pipelines virtually shut down in 2023, the International Energy Agency (IEA) is convening a special meeting with ministers from more than 40 countries to "review the situation of gas markets."
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Ansaldo Energia signs a 160 million euro contract with AzerEnerji
Italy strengthens its energy cooperation with Azerbaijan by supplying 4 gas turbines for more than 160 million euros. This major agreement marks the diversification of Italy's energy supplies and its independence from Russia.
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Ansaldo Energia signs a 160 million euro contract with AzerEnerji
Italy strengthens its energy cooperation with Azerbaijan by supplying 4 gas turbines for more than 160 million euros. This major agreement marks the diversification of Italy's energy supplies and its independence from Russia.
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Keystone pipeline leak to cost TC Energy $480 million
TC Energy announced Thursday that the aftermath of the December oil spill in Kansas will cost it $480 million. The amount includes costs incurred for cleanup, surveys and feedback. According to the initial investigation, the leak was caused by a combination of factors, including pressure that could lead to deformation of the pipeline and a weld defect.
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Keystone pipeline leak to cost TC Energy $480 million
TC Energy announced Thursday that the aftermath of the December oil spill in Kansas will cost it $480 million. The amount includes costs incurred for cleanup, surveys and feedback. According to the initial investigation, the leak was caused by a combination of factors, including pressure that could lead to deformation of the pipeline and a weld defect.
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South African industry threatens the country’s energy transition
A study by the environmental NGO InfluenceMap reveals that South African companies, despite their support for renewable energy, continue to support the use of coal and natural gas. Their lobbying for fossil fuels jeopardizes the country's climate goals.
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South African industry threatens the country’s energy transition
A study by the environmental NGO InfluenceMap reveals that South African companies, despite their support for renewable energy, continue to support the use of coal and natural gas. Their lobbying for fossil fuels jeopardizes the country's climate goals.
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Oil: Lower demand in the US and uncertain recovery in China
Oil prices took a breather Thursday after a three-session run-up. Recovering demand in China remains the main driver of higher prices, but concrete signs of recovery are uncertain due to a new wave of contamination in Covid-19. In addition, demand for oil in the United States, the largest consumer of crude oil, is declining and is "a major problem".
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Oil: Lower demand in the US and uncertain recovery in China
Oil prices took a breather Thursday after a three-session run-up. Recovering demand in China remains the main driver of higher prices, but concrete signs of recovery are uncertain due to a new wave of contamination in Covid-19. In addition, demand for oil in the United States, the largest consumer of crude oil, is declining and is "a major problem".
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United States: Crude oil up 2.4 million barrels
While strategic reserves remained unchanged, U.S. commercial crude inventories rose by 2.4 million barrels last week according to figures released by the EIA. Rising inventories have led to a surge in refinery capacity utilization and record U.S. consumption of petroleum products at 20.5 million barrels per day.
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United States: Crude oil up 2.4 million barrels
While strategic reserves remained unchanged, U.S. commercial crude inventories rose by 2.4 million barrels last week according to figures released by the EIA. Rising inventories have led to a surge in refinery capacity utilization and record U.S. consumption of petroleum products at 20.5 million barrels per day.
Baril-de-petrole-illust-position-Russie-nov-2018
Record profits for oil “super majors” in 2022
The year 2022 was a successful one for the major oil companies, which raked in $151 billion in net income. However, not everyone is happy with these profits, with governments and NGOs questioning their relevance in the midst of a global energy and climate crisis.
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Record profits for oil “super majors” in 2022
The year 2022 was a successful one for the major oil companies, which raked in $151 billion in net income. However, not everyone is happy with these profits, with governments and NGOs questioning their relevance in the midst of a global energy and climate crisis.
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First coal shipment in two years between Australia and China
After years of dissension, Australia and China seem to be on the verge of a more positive relationship. The first coal shipment en route to China in over two years is an encouraging sign of warming trade ties between the two Pacific powers. This event represents an important step in stabilizing relations between Australia and China.
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First coal shipment in two years between Australia and China
After years of dissension, Australia and China seem to be on the verge of a more positive relationship. The first coal shipment en route to China in over two years is an encouraging sign of warming trade ties between the two Pacific powers. This event represents an important step in stabilizing relations between Australia and China.
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